The following in an excerpt from a children's book, "Captain Underpants and >the Perilous Plot of Professor Poopypants" by Dave Pilkey: The evil Professor forces everyone to assume new names.

Use the third letter of your first name to determine your new first name:
a = poopsie b = lumpy c = buttercup d = gidget e = crusty f = greasy g = fluffy h = cheeseball i = chim-chim j = stinky k = flunky l = boobie m = pinky n = zippy o = goober p = doofus q = slimy r = loopy s = snotty t = tulefel u = dorkey v = squeezit w = oprah x = skipper y = dinky z = zsa-zsa

Use the second letter of your last name to determine the first half of your new last name: a = apple b = toilet c = giggle d = burger e = girdle f = barf g = lizard h = waffle i = cootie j = monkey k = potty l = liver m = banana n = rhino o = bubble p = hamster q = toad r = gizzard s = pizza t = gerbil u = chicken v = pickle w = chuckle x = tofu y = gorilla z = stinker

Use the fourth letter of your last name to determine the second half of your new last name: a = head b = mouth c = face d = nose e = tush f = breath g = pants h = shorts i = lips j = honker k = butt l = brain m = tushie n = chunks o = hiney p = biscuits q = toes r = buns s = fanny t = sniffer u = sprinkles v = kisser w = squirt x = humperdinck y = brains z = juice

Thus, for example, George W. Bush's new name is Goober Chickenshorts.
My new name is...Boobie Bubbletushie. Mikey is...Flunkie Bubbletushie. Hehehe. We're the Bubbletushies.
One of my favorite books is "Needful Things" by Crusty Cootiepants. I like to see Zippy Gerbilsquirt on the Daily Show.

Hee hee. I could go on and on. I won't, for the sake of all your brains, but rest assured that I COULD. :)